Calibrex JV Lands Financing for Central Florida Project
A $70 million construction loan is part of the package.
Calibrex Developments and Southern Impression Homes have partnered and obtained financing for the development of Aurora Oaks, a master-planned community that will add 1,096 units in Ocala, Fla. A publicly traded mortgage REIT issued a $70 million construction loan in a transaction secured by JLL Capital Markets, which also arranged a joint venture equity commitment.
Aurora Oaks will come online in three phases on a 122-acre lot. Construction on the first phase started in July, with completion scheduled for 2028.
The site is at 6280 SW 52nd St., having direct access to State Route 200, the main commercial corridor of the city. Ocala International Airport is 3 miles from the property, while the city’s historic downtown is 7 miles away.
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At full build-out, Aurora Oaks will comprise a mix of detached single-family homes, two-story townhomes and apartments. The first phase will include 197 build-to-rent units, while the remaining two phases will comprise a combined 899 apartments.
Common-area amenities are set to feature a 4,000-square-foot clubhouse serving the detached home and townhome component of the project, a swimming pool, a fitness center, a dog park, playground spaces, pickleball courts and a barbecue pavilion with outdoor gathering spaces.
JLL Managing Director Max La Cava and Senior Managing Director Christopher Drew arranged the financing package on behalf of the developers.
The project marks the first partnership between Canada-based Calibrex Developments and Southern Impression Homes, a build-to-rent developer owned by Japan-based Sumitomo Forestry. Founded in 1691, Sumitomo Forestry is one of the oldest Japanese companies and specializes in sustainable timber procurement, forest management and homebuilding.
Ocala adds to the regional multifamily pipeline
Aurora Oaks reflects broader multifamily growth across North Central Florida. The region’s multifamily development pipeline comprises 33 developments totaling 7,132 units, according to Yardi Matrix information.
Ocala alone has 1,036 units underway across four communities, one of them being Pomona, a 225-unit property developed by Crest Residential. The project broke ground in August 2025 and is expected to come online in June 2027.
